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Barchart
Rich Asplund

Sugar Prices Slip on Risk-Off Sentiment in Asset Markets

India London NY Brazil Green Pool Commodity Specialists the Indian Sugar and Bioenergy Manufacturers Association USDA

May NY world sugar #11 (SBK25) today is down -0.13 (-0.73%), and August London ICE white sugar #5 (SWQ25) is not trading with markets closed in London for the Easter Monday holiday.

NY sugar fell from a 1-week high today and turned lower as a sell-off in equity markets sparked risk-off sentiment in asset markets and weighed on sugar prices.  Sugar prices today initially moved higher after the dollar index (DXY00) sank to a 3-year low.  Sugar also had positive carryover from last Thursday on news of reduced sugar output in India after the Indian Sugar and Bio-Energy Manufacturers Association (ISMA) reported that India's sugar production from Oct 1-Apr 15 was 25.5 MMT, down -18% from the same period last year.

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